Bitcoin Last Active Supply Hits a 10-Year ATH while ETH Fees Stays Low

The evolution of the biggest cryptocurrency has been an interesting one. Analysis from Glassnode Studio has revealed that the last active supply of BTC has hit a ten-year all-time high. The current supply of inactive BTC is at 2,155,446 which is its highest in 10 years. 

Bitcoin was invented in 2009, influenced into reality by the whitepaper released by the pseudonymous Satoshi Nakamoto. The expected total supply of Bitcoin is 21 million and there is over 18 million in circulation today. However, a few millions seems to be held up. 

These inactive BTCs are those that haven’t been moved or traded for a while. Within 10 years a total supply of over two million Bitcoins have remained stagnant. Analysts believe that this could be the case of lost wallets, deceased holders or simply intentional.

In September 2010, the value of BTC was $0.05. Ten years from then, and it stands at a value of over $35 at the time of this writing. The cryptocurrency gathered massive momentum as the foremost virtual asset and is becoming the most valuable presently.

ETH Transaction Fees Hits ATL

The total fees paid on the Ethereum Network has hit an all-time low. The second cryptocurrency according to market cap rankings witnessed a tumultuous May, just as Bitcoin. However, it had remained afloat as it cleared May with less than a few hundred dollars after its ATH within the month. 

Glassnode also offered some insights to the decreasing transaction fees of the blockchain. The total amount of fees paid to miners had hit a four-month low of $308,851. As well touching a ten-month low of $2,716 at the time of this report. The ETH network median gas usage on the other hand, reached an ATH of 36,082.

The Ethereum network has its high network charges as a disadvantage. Its developers however, have stated intentions to work on decreasing its gas charges as more utilities join the network. 

 

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